Copper closes with losses in London

LONDON.- Copper closed with a 1.09% drop today at the London Metal Exchange (LME) after trading for US$ 1.27550 per pound of "grade A" material, compared to US$ 1.28956 on Monday and US$ 1.25645 on Wednesday, December 24th (its lowest value in 4 years and 3 months).

As a result, the monthly average dropped to US$ 1.39728 while the yearly average slipped to US$ 3.16042.

Meanwhile he future 3-month price quote ended at US$ 1.29274 per pound, down by 1.11% from Monday (US$ 1.30725).

At the LME, stocks increased by 650 metric tons to 337,350. So far this year, there has been an accumulated increase of 139,900 MT (+70.85%).